Euro risks deeper pullback after bulls repeatedly stalled
The Euro lost traction on Friday following comments from ECB President Lagarde who said that it is still too early to discuss policy after the end of central bank’s emergency bond buying scheme and seeing inflation rise this year as…
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Eurozone business growth accelerates in May as dominant services industry reopens
Euro zone Composite Purchasing Managers’ Index which combines performance in manufacturing and services sectors and is seen as one of main gauges of the economic health, rose to 56.9 in May from 53.8 previous month and well above 55.1…
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Bulls pressure 1.42 barrier after upbeat retail sales; PMI data in focus
Cable jumped to 1.4200 zone after upbeat UK retail sales but failed to break higher, remaining within 1.41/1.42 range for the fourth straight day.
Larger bulls remain supported but face headwinds on approach to 2021 high at 1.4238 (Feb…
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UK retail sales surge in April as economy reopens after lockdown
Reopening of non-essential shops in Britain on April 12, after shutting in early January due to coronavirus restrictions, boosted British retail sales last month.
Retail sales surged by 9.2% in April from downwardly revised 5.1% in March…
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Gold remains steady after Fed, boosted by fears of rising inflation
Spot gold kept positive tone on Thursday despite warning technical signal of indecision and possible stall from Wednesday’s long-legged Doji candle.
The metal remains supported by fears of rising inflation which dominates in the near-term…
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Further decrease in weekly jobless claims signals acceleration in US job growth
The US jobless claims fell further in the week ending May 15, holding below 500,000 for the second consecutive week and adding to signals that job growth picked up this month.
The number of Americans filling for state unemployment…
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Dollar remains at the back foot after Fed minutes but extended consolidation cannot be ruled out
The dollar came under pressure on Thursday following short rebound after Fed minutes on Wednesday signaled that there was more than expected talk of tapering bond purchases.
The action stays below broken important Fibo support at 90.16…
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Oil prices extend weakness on prospects of lifting sanctions on Iran; supply concerns
WTI oil remains in red for the third straight day, weighed by renewed supply concerns over fresh rise in new virus cases in Asia, a progress in a talks towards a deal to lift sanctions on Iran, that would boost global supply and rise in…
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Bulls look for a weekly close above 1.2197 Fibo barrier to signal continuation
Bulls regained traction on Thursday and fade downside risk that emerged after post-Fed nearly 0.5% drop on Wednesday.
Fresh rise in German producer prices (the biggest increase in nearly a decade) added to Euro’s positive sentiment,…
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Post-labor data advance faces strong obstacles
The Australian dollar rose in early Thursday’s trading after April’s labor report showed Australia’s jobless rate fell for a sixth consecutive month and hit the lowest since April 2020 at 5.5%, but employment declined by 30,600 against…
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